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News Analysis

East Coast prices bear an eerie resemblance to California of last spring, but pay no mind, say experts.
Fortnightly Magazine - June 1 2001

in the MAAC region, is well-prepared for operating emergencies should they occur. Regular drills have been conducted in preparation for an extremely hot summer," the MAAC says.

In New England, the ISO is confident they are well prepared for a hot summer. In fact, they feel they have set the stage for a problem-free summer by facing a record-breaking heat wave in early May. On May 8, the ISO New England announced that the region's electric power system withstood record-setting temperatures during the first week of the month, and that the performance of the system bodes well for the upcoming summer.

"The conditions we saw last week are exactly what we base our summer forecasts on," said Stephen G. Whitely, ISO New England's vice president of system operations in a press release. "The fact that we were able to meet the demand, even though we were not yet at maximum capacity, shows that we should be able to avoid extreme measures this summer."

Dr. David Patton, the independent market advisor for the New York ISO, recently released a report saying "New York's markets are indeed competitive, but New Yorkers will suffer from higher electricity prices unless significant levels of new generation are added to the system in the near future." Patton also predicts that for this summer, prices will be at the very least 7 percent higher than they were last year, with the increase reaching 46 percent by 2005. Given this summer's impending crunch, the NYISO is working on some solutions. "Given the very tight supply situation we are faced with ..., the NYISO will continue to devote every possible resource available to insure that the system meets every challenge ... until new generation is successfully brought on line," says NYISO President and CEO William J. Museler.

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